Property taxes payable in the year of annexation shall be proportioned on a monthly basis. For example, if the parcel for annexation was annexed with four months remaining in the year, the property taxes collected would be apportioned for 2/3 of the year.

Reimbursement by Property Owner:

\N

Reimbursement by Acre:

\N

Tax Rate Step-up:

Yes

Step up description:

5 years.

Planning:

Yes

Planning Type:

Municipality

Initiation:

No

Debt/Special Assessment Language:

Yes

Debt Description:

Property owners will not be assessed until improvements have been determined to benefit the property. Lots 1, 2, 3, and 27 (four residential lots) will be assessed as three residential units.